"Crash is Over", U.S. Housing Market has Bottom DeclaredHousing-Market / US Housing May 27, 2012 - 08:42 AM GMT
"The crash is over", says an economist. "Housing can only go up," says another. "I think the market has bottomed out," says one builder. "It appears we have turned the proverbial corner," says a second.
After hitting a low with stocks in March 2009, U.S. single family building permits rallied in three waves into March 2012. The latest high is more than 65% below the September 2005 peak. A MarketWatch commentary insists, "Permits Push Signals U.S. Housing Boom." These assessments are flooding in even though many home buyers from 2010 and 2011 are already underwater! According to CoreLogic, more than one millions U.S. home buyers who have taken out low-money-down FHA mortgages over the last two years already owe more on their loan than their homes are worth. The FHA's policy of accepting almost no money down is deadly when..... continues in the May issue of EWI's Financial Forecast 10 page report available for FREE.
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